Payments Fintech dLocal Sees Shares Rise over 50% Following IPO

DLocal Limited (NASDAQ:DLO), a payments Fintech based in Uruguay, successfully listed its shares on the Nasdaq raising over $617 million at $21/share. Shares have traded as high as over $35/share and look to close the week having jumped over 50% following its float. The company zoomed to a valuation of over $10 billion creating Uruguay’s first Fintech billionaires, according to reports. A funding round in April 2021 valued the company at $5 billion.

According to a statement by the company, 29,411,765 Class A common shares, including 25 million shares from selling shareholders were initially marketed at a price range of USD $16.00 to USD $18.00 per share. Strong demand allowed the company to raise its price. Selling shareholders were expected to grant the underwriters a 30-day option to purchase up to an additional 4,411,765 Class A common shares at the initial public offering price.

While operating across Latin America, dLocal also provides services in Africa as well as Asia – 29 countries in total.

According to the company’s website, dLocal was started with a mission to close the payments innovation gap that exists between developed countries and emerging economies. The company states they are “40% cross-border payments facilitator, 40% technology company and 40% emerging-markets localization experts.”

DLocal claims more than 300 global merchants, accepting over 600 local payment methods. DLocal’s customers include well known names like Amazon,, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, Microsoft, and more.

In a report this week, Sebastian Kanovich, CEO and co-founder of dLocal, explained:

“We are from Uruguay, which we are extremely proud of, but our market is global. The US is the most mature capital market and we believe the transparency that this market brings is the right opportunity for dLocal. Fundamentally we want to be the partner for global companies who want to expand in emerging markets.”


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